The Debt Restructuring initiative focused specifically on its Finnish subsidiary Kuu Hubb Oy is intended to improve the companys financial situation by decreasing its current debt burden
HIGHLIGHTS:
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Board of Directors unanimously supports the debt restructuring of its Finland-based subsidiary Kuu Hubb Oy, which represents over 7.7 million of aggregate indebtedness
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Kuuhubb Inc.s operations will continue without interruption; the process is not expected to have any impact on customers, vendors or employees
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The Debt Restructuring proceedings will be under the jurisdiction of the District Court of Helsinki, in Finland, governed by the Finnish Restructuring of Enterprises Act (47/1993, REA)
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Following the debt restructuring process, t…
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